India To Be Among Top 10 Investors In Malaysia In 2011
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MUMBAI, March 8 (Bernama) — India, Asia’s third largest economy, is tipped to be among the top 10 investors in Malaysia, with a total of RM4 billion investments earmarked in the manufacturing sector this year.
Malaysian Investment Development Authority (MIDA) director-general Datuk Jalilah Baba said Indian companies were confident in expanding their operations due to rising awareness of Malaysia’s friendly economic policies plus its strategic location.
In 2011 India may be among the top ten investors in Malaysia, which never happened before. This is because of the attractiveness of Malaysia.
“We expect investments to reach about RM4 billion,” Jalilah told Bernama in an interview in Mumbai today.
Indian investments have been growing with five manufacturing projects worth US$10.8 million (RM33.48 million) in 2009, eight projects worth US$8.9 million in 2010 and a forecast investment of RM4 billion (including 10 to 15 projects) this year, she said.
Companies dealing in solar energy, heavy engineering, high-end textile industry, oil and gas and pharmaceutical biotechnology are now looking at Malaysia in a big way.
“We are upbeat about India, suddenly there is a large interest from Indian companies in Malaysia.
“We want them to look at Malaysia as an important destination and their profit centre in Asia.
“Malaysia being in the heart of Asia, India can use Malaysia as a spring board to expand their market to all Southeast Asia and to Asia, as far as China and Japan,” she added.
Jalilah along with top MIDA officials are in Mumbai in conjunction the Deputy Prime Minister Tan Sri Muhyiddin Yassin’s visit to India beginning today.
Source: http://www.bernama.com/bernama/v5/newsbusiness.php?id=569478
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Filed Under: Business
